According to TV reports as many as 50 people may have been injured in the explosion which happened at around 10.15am
New Delhi: Several people were injured in a blast this morning outside one of the entry gates to the Delhi High Court complex crowded with visitors seeking entry into the premises.
The explosion occurred outside gate No 5 where 100 to 200 people were waiting in queue to get passes for entry into the court complex. The nature and magnitude of the blast was immediately not known.
According to TV reports, nine people are reported dead and as many as 50 people may have been injured in the explosion which occurred at around 10.15am. There was no official information yet on the incident.
Some of the injured were being treated at a dispensary in the court itself while others were rushed to nearby hospitals.
Court business is usually heavy on Wednesday which is listed as a public interest litigation (PIL) day when the visitors come to the court in large numbers.
Ambulances and fire tenders were rushed to the spot.
The blast area has been cordoned off and police have asked people to clear the area.
Top officials of Delhi police including special commissioner (law and order) Dharmendra Kumar and joint commissioner of special cell RS Krishnaiah have rushed to the spot.
Joint commissioner (crime) Sandip Goyal and special commissioner PN Aggarwal also joined them.
Mr Kumar said it was too early to ascertain the exact nature of the blast.
He declined to speculate whether the blast was of low intensity or high intensity.
It is in the second time in four months that a blast occurred outside the Delhi High Court complex.
An explosion on 25th May triggered panic prompting the authorities to sound a high alert in the capital and tighten security at public places. No one was injured.
Low-intensity explosives, wrapped in a polythene bag and kept close to the car parked near Gate No 7 went off around 1.30p.m. Ammonium nitrate, a battery-like object, wires and some nails were found at the site by forensic experts.
As per the government norms an IDF may be set up either as a trust or company. While the trust based IDF (Mutual Fund) would be regulated by SEBI, an IDF set up as a company (NBFC) would be regulated by RBI
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) on Tuesday notified guidelines for launching infrastructure debt fund (IDF) which would invest 90% of its assets in debt securities of the sector companies, reports PTI.
“An infrastructure debt fund scheme shall be launched as close-ended scheme maturing after more than five years or interval scheme with lock-in of five years...,” SEBI said in a circular.
An IDF scheme, which can be set up by any existing mutual fund, would invest a minimum 90% of scheme assets in the debt securities and should have a minimum of five investors.
The minimum investment into IDF would be Rs1 crore and the minimum size of the unit would be 10 lakh, SEBI said.
The IDF, which was proposed by finance minister Pranab Mukherjee in the Union Budget for FY11-12, is aimed at accelerating and enhancing flow of long-term debt for funding the ambitious programme of infrastructure development in the country.
SEBI said the strategic investor would have to make a firm commitment of Rs25 crore. The units of infrastructure debt fund schemes shall be listed on the stock exchange.
“An infrastructure debt fund shall have minimum five investors and no single investor shall hold more than 50% of net assets of the scheme,” SEBI added.
The requirement of infrastructure in the 12th Plan has been pegged at $1 trillion.
As per the government norms an IDF may be set up either as a trust or company. While the trust based IDF (Mutual Fund) would be regulated by SEBI, an IDF set up as a company (NBFC) would be regulated by RBI.
The basic feature of inflation-indexed bonds or capital-indexed bonds is that the coupon is specified in real terms. Such real coupon will be applied to the inflation-adjusted principal to calculate the periodic semi-annual coupon payments
Mumbai: Reserve Bank of India (RBI) governor Duvvuri Subbarao on Tuesday said the central bank is planning to introduce inflation-indexed bonds, under which an investor would get a return on the basis of the prevailing inflation at the time of maturity, reports PTI.
“One cause of concern is whether in a period of relative high inflation ... whether they (inflation-indexed bonds) will be successful. We will think through this... but certainly we will introduce that,” Mr Subbarao told a national finance symposium organised by the Indian Institute of Foreign Trade and the Bombay Chamber of Commerce here.
When bonds are indexed to inflation, the return on them will be linked to the prevailing rate of inflation at maturity of the instrument on both the coupons as well as on the principal repayments at maturity.
The existing bonds are capital-indexed and only protect the capital/principal against inflation, but an IIB (inflation-indexed bond) will be offering investors inflation-based returns. The index in this case will be based on the monthly wholesale price index.
Pointing out that the past experience with such an instrument was not received well, the governor said, “We have diversified the instruments for government borrowings now...
The zero coupon bonds, capital indexed bonds and now there is a proposal to introduce inflation indexed-bonds.
“We tried those inflation indexed bonds earlier, but it did not work out very well but now we want to reintroduce them.”
The first capital indexed bond (CIB), known as inflation-indexed bonds, was a 2002 paper, issued on 29 December 1997.
But no further issuance was made for want of response from market participants both in the secondary and primary markets.
The RBI formally floated the idea of inflation-indexed bonds when Rakesh Mohan was the deputy governor, though the concept was mooted in the late 1990s.
Later, an RBI technical committee had proposed introduction of fully-inflation indexed bonds for institutional investors with maturities of 10-12 years.
Under the existing yield norms governing bonds, there is only fixed rate of return and for an issue that was bought when inflation was down does not guarantee higher returns to investor when the inflation goes up.
The CIBs, according to an RBI discussion paper, would help meet the diverse investment and hedging needs of investors and to impart depth to the bond market in general.
The basic feature of IIBs or CIBs is that the coupon is specified in real terms. Such real coupon will be applied to the inflation-adjusted principal to calculate the periodic semi-annual coupon payments.
Unlike the existing capital indexed bonds, which protect only the capital/principal against inflation, the new scheme promises investors inflation-based returns.
Under this, if inflation remains high at the time of maturity over the rate when the bond was bought, then the investor will gain, and if it is lower than that rate prevailing at the time of maturity, then the investor will lose out.